Dalal Street extended its gains for a second consecutive day on Wednesday, buoyed by positive global cues and easing geopolitical tensions. The Sensex surged by 529.55 points to reach 82,584.66, while the Nifty crossed the key psychological mark of 25,200, climbing 151.55 points to 25,195.90 as of 10:08 am.
Market sentiment was lifted following reports of a ceasefire between Iran and Israel, along with a significant drop in crude oil prices—both favorable developments for the Indian economy. According to an equity strategy director at WealthMills Securities, the de-escalation in West Asia and reduced oil prices have provided the much-needed relief rally.
Both Iran and Israel have reportedly paused their aerial strikes, at least temporarily, amid international pressure and criticism from U.S. President Donald Trump over the breach of a ceasefire he had brokered.
Market analysts emphasized that the Nifty holding above the 25,000 level is crucial for maintaining bullish momentum. Sustained movement above this threshold could signal further upside potential for both Nifty and Sensex.
In early trade, Titan led the gainers with a 1.60% rise, followed by Hindustan Unilever (up 1.20%), PowerGrid (up 1.03%), Infosys (up 0.91%), and HCL Technologies (up 0.91%). On the downside, Bharat Electronics slipped 0.61%, while Kotak Mahindra Bank edged lower by 0.33%.
The broader markets also opened on a strong note, with the Nifty Midcap 100 rising 0.46% and the Nifty Smallcap gaining 1.09%. Market volatility eased, with the India VIX dropping by 2.38%.
All sectoral indices were in the green, indicating broad-based buying:
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Nifty FMCG led with a gain of 0.88%
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Nifty IT rose 0.82%
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Nifty Consumer Durables added 0.70%
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Nifty Auto climbed 0.64%
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Nifty Oil & Gas gained 0.61%
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Nifty Healthcare increased by 0.57%
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Nifty Pharma rose 0.51%
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Nifty Metal added 0.44%
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Nifty Financial Services, Nifty Media, Nifty Realty, Nifty Private Bank, and Nifty PSU Bank also saw modest gains
The overall market tone remained upbeat with no sectors in the red during the morning session, driven largely by FMCG and IT stocks.
